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Side-by-side financial comparison of CollPlant Biotechnologies Ltd (CLGN) and Envoy Medical, Inc. (COCH). Click either name above to swap in a different company.

CollPlant Biotechnologies Ltd is the larger business by last-quarter revenue ($179.0K vs $75.0K, roughly 2.4× Envoy Medical, Inc.). CollPlant Biotechnologies Ltd runs the higher net margin — -1869.8% vs -8781.3%, a 6911.5% gap on every dollar of revenue. On growth, Envoy Medical, Inc. posted the faster year-over-year revenue change (78.6% vs -28.1%).

CollPlant Biotechnologies Ltd is a regenerative medicine company focused on developing and commercializing advanced products using its proprietary plant-derived human collagen technology. Its core offerings cover wound care, soft tissue repair, and aesthetic medicine solutions, targeting key markets across North America, Europe, and Israel, serving healthcare providers in dermatology, orthopedics and cosmetic care segments.

Envoy Medical, Inc. is a medical technology firm specializing in developing and commercializing advanced implantable hearing solutions for sensorineural hearing loss patients. Its core products include fully implanted middle ear hearing devices, with primary markets across North America and Europe, serving users who gain limited benefit from conventional external hearing aids.

CLGN vs COCH — Head-to-Head

Bigger by revenue
CLGN
CLGN
2.4× larger
CLGN
$179.0K
$75.0K
COCH
Growing faster (revenue YoY)
COCH
COCH
+106.7% gap
COCH
78.6%
-28.1%
CLGN
Higher net margin
CLGN
CLGN
6911.5% more per $
CLGN
-1869.8%
-8781.3%
COCH

Income Statement — Q2 2025 vs Q4 2025

Metric
CLGN
CLGN
COCH
COCH
Revenue
$179.0K
$75.0K
Net Profit
$-3.3M
$-6.6M
Gross Margin
-3.9%
-181.3%
Operating Margin
-1775.4%
-8513.3%
Net Margin
-1869.8%
-8781.3%
Revenue YoY
-28.1%
78.6%
Net Profit YoY
20.5%
-42.6%
EPS (diluted)
$0.28
$-0.27

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
CLGN
CLGN
COCH
COCH
Q4 25
$75.0K
Q3 25
$42.0K
Q2 25
$179.0K
$78.0K
Q1 25
$46.0K
Q4 24
$42.0K
Q3 24
$56.0K
Q2 24
$249.0K
$68.0K
Q1 24
$59.0K
Net Profit
CLGN
CLGN
COCH
COCH
Q4 25
$-6.6M
Q3 25
$-6.5M
Q2 25
$-3.3M
$-5.7M
Q1 25
$-5.0M
Q4 24
$-4.6M
Q3 24
$-6.0M
Q2 24
$-4.2M
$-3.9M
Q1 24
$-6.3M
Gross Margin
CLGN
CLGN
COCH
COCH
Q4 25
-181.3%
Q3 25
-383.3%
Q2 25
-3.9%
-200.0%
Q1 25
-391.3%
Q4 24
-273.8%
Q3 24
-233.9%
Q2 24
-115.3%
-260.3%
Q1 24
-159.3%
Operating Margin
CLGN
CLGN
COCH
COCH
Q4 25
-8513.3%
Q3 25
-13590.5%
Q2 25
-1775.4%
-6500.0%
Q1 25
-11102.2%
Q4 24
-10828.6%
Q3 24
-8878.6%
Q2 24
-1769.5%
-7135.3%
Q1 24
-8278.0%
Net Margin
CLGN
CLGN
COCH
COCH
Q4 25
-8781.3%
Q3 25
-15433.3%
Q2 25
-1869.8%
-7294.9%
Q1 25
-10865.2%
Q4 24
-10995.2%
Q3 24
-10642.9%
Q2 24
-1690.8%
-5804.4%
Q1 24
-10627.1%
EPS (diluted)
CLGN
CLGN
COCH
COCH
Q4 25
$-0.27
Q3 25
$-0.35
Q2 25
$0.28
$-0.32
Q1 25
$-0.29
Q4 24
$-0.40
Q3 24
$-0.39
Q2 24
$0.37
$-0.29
Q1 24
$-0.41

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CLGN
CLGN
COCH
COCH
Cash + ST InvestmentsLiquidity on hand
$11.4M
Total DebtLower is stronger
Stockholders' EquityBook value
$12.5M
$-12.2M
Total Assets
$17.4M
$8.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CLGN
CLGN
COCH
COCH
Q4 25
Q3 25
Q2 25
$11.4M
Q1 25
Q4 24
Q3 24
Q2 24
$18.9M
Q1 24
Stockholders' Equity
CLGN
CLGN
COCH
COCH
Q4 25
$-12.2M
Q3 25
$-7.7M
Q2 25
$12.5M
$-29.9M
Q1 25
$-24.2M
Q4 24
$-18.8M
Q3 24
$-18.5M
Q2 24
$20.7M
$-12.4M
Q1 24
$-7.4M
Total Assets
CLGN
CLGN
COCH
COCH
Q4 25
$8.6M
Q3 25
$8.2M
Q2 25
$17.4M
$9.9M
Q1 25
$10.4M
Q4 24
$11.5M
Q3 24
$9.4M
Q2 24
$26.6M
$6.7M
Q1 24
$8.5M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CLGN
CLGN
COCH
COCH
Operating Cash FlowLast quarter
$-5.7M
Free Cash FlowOCF − Capex
$-5.9M
FCF MarginFCF / Revenue
-7809.3%
Capex IntensityCapex / Revenue
229.3%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CLGN
CLGN
COCH
COCH
Q4 25
$-5.7M
Q3 25
$-4.3M
Q2 25
$-4.5M
Q1 25
$-3.7M
Q4 24
$-5.1M
Q3 24
$-2.6M
Q2 24
$-4.6M
Q1 24
$-5.6M
Free Cash Flow
CLGN
CLGN
COCH
COCH
Q4 25
$-5.9M
Q3 25
Q2 25
$-4.5M
Q1 25
$-3.7M
Q4 24
Q3 24
$-3.8M
Q2 24
Q1 24
$-5.7M
FCF Margin
CLGN
CLGN
COCH
COCH
Q4 25
-7809.3%
Q3 25
Q2 25
-5719.2%
Q1 25
-8110.9%
Q4 24
Q3 24
-6750.0%
Q2 24
Q1 24
-9657.6%
Capex Intensity
CLGN
CLGN
COCH
COCH
Q4 25
229.3%
Q3 25
0.0%
Q2 25
1.3%
Q1 25
13.0%
Q4 24
Q3 24
2066.1%
Q2 24
Q1 24
184.7%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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